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Higher Taxes Makes Petrol Costlier

BW Online Bureau Nov 08, 2014

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[Petrol costs more in India than the United States of America because of higher taxes, but diesel is priced lower than the US, Minister of State for Petroleum and Natural Gas R P N Singh said Tuesday. Petrol in Delhi costs Rs 65.64 per litre, as against the retail price of just Rs 45.45 a litre in the US, he said in a written reply to a question in the Rajya Sabha in New Delhi. This is because taxes constitute Rs 26.44 out of the price of petrol in Delhi, while they amount to just Rs 5.54 in a litre in the US. However, petrol is cheaper in Delhi than the United Kingdom, where it is sold at Rs 108.47 per litre, and France, where it costs Rs 103.14 a litre. The taxes on petrol in the UK and France add up to Rs 65.10 and Rs 59.26 per litre, respectively. The rates in New Delhi are also lower than the price of Rs 104.31 per litre in Germany, Rs 110.07 per litre in Italy, Rs 90.04 per litre in Spain and Rs 88.09 a litre in Japan. Singh said the price of diesel in Delhi, at Rs 40.91 per litre, is cheaper than the rate of Rs 53.23 a litre in the US, Rs 95.18 a litre in the UK and Rs 79.85 per litre in France. The tax component in retail prices of diesel in Delhi is just Rs 7.4 per litre, while it stands at Rs 6.41 per litre in the US. Taxes on diesel are very high in the UK, at Rs 47.02 per litre, and France, at Rs 30.29 a litre. Diesel is also costlier at Rs 82.90 per litre in Germany. It is priced at Rs 86.99 per litre in Italy, Rs 76.87 a litre in Spain and Rs 76.14 per litre in Japan, he said. (PTI)